Re: NPNC - reply

From: William Shaw <wshaw@odi.com>
Subject: Re: NPNC - reply
Date: Sat, 24 Oct 1998 12:09:44 -0400

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OK, I have been following this thread, and it seems to me for NPNC, the
only factor is the interest rate. In another words, if you have X dollar
amount outstanding (principle left); and a mortgage company steps in and
says that we can pay off the loan on your behalf with a new loan in the
amount of X with a lower interest rate at now cost to you. Why should
not you do it? It is no brainer to me since the interest you are paying
for is always based on the outstanding balance, albeit amortized
monthly.

- --Will




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